Founder of Terraform Labs, Do Kwon, has withdrawn millions of dollars in crypto from an entity linked to his failed blockchain firm, investigators claim. South Korean authorities are now trying to locate the digital assets that have been allegedly transferred since his arrest in Montenegro in March. Prosecutors Try to Trace Tokens for Millions of…
Read more
The Terraform Labs co-founder is out on bail after a successful appeal in Montenegro but will be closely monitored until his next court appearance. Terraform Labs co-founder Do Kwon has been granted bail in Montenegro after an appeals process by prosecutors was dismissed by a Montenegrin court on June 2. According to an official release…
Read more
A Montenegrin high court judge has reportedly invalidated the bail application of Do Kwon, the co-founder of Terraform Labs. Kwon was detained for providing false identification while boarding a flight to Dubai alongside a companion on March 23, 2023. Terraform Labs Co-Founder’s Bail Request Invalidated by Montenegrin High Court For the past 62 days, Do…
Read more
A court in Montenegro has repealed a lower court’s decision under which to release Terraform Labs co-founder Do Kwon on bail, according to Bloomberg News. A court spokesperson said a high court in Montenegro’s capital overturned the earlier decision and Kwon remains in jail, Bloomberg reported. This also applies to Terraform Labs’ former Chief Financial…
Read more
Prosecutors in Montenegro appealed against the bail terms of Terra/LUNA co-founder Do Kwon and chief financial officer Han Chang-Joon. On Wednesday, the State Prosecutor’s Office in the country’s capital, Podgorica, filed an official appeal against the decision made by the court on May 12 to grant Kwon and Han a release from detention on bail…
Read more
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: Binance Faces Issues in Australia & Joins Hands with TradingView, Ripple Reveals a CBDC Platform, Montenegro Prosecutors Appeal Do Kwon & Han Chang-Joon’s Bail Terms Read more »Sign…
Read more
Jump Trading has been sued for conspiring to manipulate the price of TerraUSD (UST) following the stablecoin’s unprecedented collapse. New Jersey-based resident Taewoo Kim has filed the lawsuit on behalf of affected investors, alleging that Jump Trading acquired substantial quantities of UST to manipulate its value toward $1, misleading investors about its true price and risks associated…
Read more
Terraform founder Do Kwon will be released from jail but placed under police surveillance at a local residence, a Montenegrin court has decided. The trial against him and another Korean, on charges of travelling on false documents, opened on Thursday with both pleading not guilty. Court Grants Bail Request for Do Kwon, Puts Him Under…
Read more
The frozen assets include an apartment complex, an officetel, several imported cars and various financial assets. On May 10, local news outlet Hankyung reported that Do Kwon, co-founder and former CEO of Terraform Labs, had over 233.3 billion Korean won ($176 million) in personal assets frozen as part of ongoing criminal proceedings. Chief Judge Yun…
Read more
Federal securities laws only apply in the United States, but the protocols were developed overseas, argues Terraform Labs. Terraform Labs is seeking to have a class action lawsuit against the firm dismissed, arguing the United States securities laws referenced are not applicable to its foreign-developed protocols. On May 3, Terraform Labs requested a California federal…
Read more
